step_ahead_ofthemarket
Long

BTC LONGS VS SHORTS- Playing heavily in favor for the bulls

BITFINEX:BTCUSDLONGS   BTCUSD Longs
Tiny update.

Currently expecting a medium pullback on the BTCUSDLONGS as they are very very overbought, but under a very steep angle.(Positive-bullish effect on the price)
When it comes to the BTCUSDSHORTS ,it's quite the opposite. The 4hr chart is very oversold, and a pull up anytime soon could happen.

What can be seen as the biggest outtake from this analysis by far, is the failed cup and handle formation, which by itself it's one of the most bullish formation, and a failed cup and handle is quite a bearish sign.


Anyways, comment your thoughts or if you have anything to add folks, since this is quite a short update, cheers!

-Happy trading-
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Disclaimer:
//This is not a buy or sell signal, you decide what to do with your own money!//

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